Cairo – Mubasher: Canal Shipping Agencies on Thursday reported a 66% year-on-year increase in net profit for the first quarter of fiscal year 2018/2019.

Net profit stood at EGP 59.2 million in the three-month period ended September, versus EGP 35.6 million in the year-ago quarter, the company said in a filing to the Egyptian Exchange (EGX).

Revenue jumped to EGP 32.5 million in Q1-18/19, compared to EGP 24.11 million in the same quarter last year.

Canal Shipping previously said it logged EGP 271.16 million in profits for FY17/18, versus EGP 155.199 million in the year before.